Report : Europe Probiotic Supplements Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Capsules & Tablets, Gummies, Powder, and Others) and Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, Online Retail, and Others)
Increasing Preventive Healthcare Expenditure in Europe to Drive Market
According to our latest market study on "Europe Probiotic Supplements Market Forecast to 2028 – COVID-19 Impact and Analysis – by Product Type (Capsules & Tablets, Gummies, Powder, and Others) and Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, Online Retail, and Others)," The Europe probiotic supplements market value was at US$ 1,675.37 million in 2021 and is projected to reach US$ 2,673.96 million by 2028; it is expected to grow at a CAGR of 7.1% from 2022 to 2028.
In Europe, the importance of preventive healthcare is growing significantly. According to the European Commission, total expenditure on preventive healthcare for all European Union (EU) member countries amounted to US$ 39.6 billion in 2019. Probiotic supplements play a crucial role in preventing various gut-related health problems such as gastrointestinal diseases, constipation, inflammatory bowel disease (IBD), and irritable bowel syndrome (IBS). Probiotic supplements contain mixed cultures of live microorganisms that help improve digestive and immune health. They boost nutrient absorption, enhancing immunity and reducing the risk of chronic diseases and infections. In Europe, the majority of the population is targeting digestive wellness. This has created a strong demand for probiotic supplements. Moreover, after the outbreak of COVID-19, many people engaged in fitness activities that helped to prevent chronic illnesses. They are actively searching and spending on products that improve immune health. Thus, a rise in expenditure on preventive healthcare products, coupled with high demand for probiotic supplements among consumers of all age groups, is significantly propelling the Europe probiotic supplements market growth.
Nature's Bounty; Pharmavite LLC.; Biogaia; Herbalife Nutrition Ltd.; Bayer AG; GNC; Nature's Way Products, LLC; SFI Health; Amway; and Church & Dwight Co, Inc. are among the key players operating in the Europe probiotic supplements market. These companies have a strong presence in the Europe probiotic supplements market. Moreover, they are investing in product innovation and expansion strategies to meet the Europe probiotic supplements market trends.
Impact of COVID-19 Pandemic on Europe Probiotic Supplements Market
Before the onset of the COVID-19 outbreak, the Europe probiotic supplements market was mainly driven by the rising demand for products that support digestive and immune health. Moreover, the COVID-19 pandemic will have a long-term favorable impact on the Europe probiotic supplements market. The positive influence can be recognized as probiotic supplements are in high demand across the region because they support digestive and immune health. Consumers gravitated toward immunity-boosting and nutritious products as the number of COVID-19 patients increased. Due to the COVID-19 pandemic, consumers have been increasingly attentive to their health and wellness. Furthermore, the market witnessed an increased demand for digestive and immune health products. As a result, sales of dietary supplements consisting of vitamins, multivitamins, probiotics, and other immunity boosting functions have also increased. This factor provided a strong growth opportunity to the Europe probiotic supplements market during the pandemic.
In 2021, governments of European countries announced relaxation in the previously imposed restrictions, which boosted the marketplace. Moreover, manufacturers were permitted to operate at full capacity, which helped them overcome the demand and supply gap and other repercussions. This factor also positively impacted the Europe probiotic supplements market.
The report segments Europe probiotic supplements market as follows:
Based on product type, the Europe probiotic supplements market is segmented into capsules & tablets, gummies, powder, and others. In terms of distribution channel, the Europe probiotic supplements market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others.
Contact Person: Sameer Joshi
Email Id: email@example.com